Tax reform windfall: These companies are hiking pay, delivering bonuses

J.M. Smucker Co. will offer one-time $1,000 bonuses to thousands of its employees, joining other major companies in rewarding employees due to savings tied to the recent passage of GOP-backed tax reform.

The Ohio-based company, which is also known as Smucker, said last week that nearly 5,000 employees will receive bonuses. In addition, Smucker announced $1 million in charitable donations and $20 million in investments toward employee pension plans.

The $1.5 trillion tax bill reduces the corporate tax rate from 35% to 21% and changes the way the U.S. government taxes companies that also operate internationally.

FOX Business is keeping track of the tax benefits that have reached over 3 million Americans so far.

Source: foxnews